Grafton shares jump on upbeat trading statement, guidance hold
Shares in jumped on Thursday after the building materials supplier said it was on track to meet full-year guidance after trading, despite the potential impact of US tariffs.
Group revenue in the first four months of the year rose 7.8% to £773.1m, boosted by the acquisition of Salvador Escoda, a distributor of heating, ventilation, air conditioning, water and renewable products in Spain, which completed last October.
"Notwithstanding the potential impact of US tariffs and any associated economic uncertainty, the medium term fundamentals remain positive for Grafton, with housing shortages across all our geographies and an expected recovery in RMI demand after several consecutive years of low levels of investment by households," the company said on Thursday in a trading statement.
"The group's balance sheet remains strong with Grafton well positioned to support future development activities as opportunities arise."
Reporting by Frank Prenesti for Sharecast.com
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